Lebanese pound hits record low of 100,000 to the dollar – The National
- Date: 15-Mar-2023
- Source: The National
- Sector:Financial Markets
- Country:Lebanon
Lebanese pound hits record low of 100,000 to the dollar – The National
Lebanon’s currency has hit a record low to the dollar, with 100,000 pounds — the value of the country’s largest banknote — now worth only $1.
The new rate, which became a reality on Tuesday, had been expected in recent weeks as the value of the local currency continued to plummet almost unabated.
Before the country's economic crisis, 100,000 pounds was worth $67.